Betters Medical Looks Ailing Going Into Hong Kong IPO

Key Takeaways:

  • Betters Medical has launched a Hong Kong listing, relying on high-margin microwave ablation needles as its major revenue contributor
  • The company could face liability of tens of millions of yuan for failing to meet terms of an agreement with one of the investors in its Series C funding

By Molly Wen

Can a single product type support a company’s long-term growth? That may be one of several big concerns for potential investors in Betters Medical Investment Holdings Ltd. (6678.HK), a maker of microwave ablation medical devices that carry fat margins. Those devices are the company’s big breadwinner, bringing in 189 million yuan ($26.8 million) in revenue last year as Betters Medical has become one of the few Hong Kong-listed medical device makers operating profitably.

After making a first IPO filing a year ago that failed, Betters Medical tried again in April and…



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